World on brink of FINANCIAL CRASH? Economic MELTDOWN as Europe, Asia and US markets PLUNGE

Thursday, October 11, 2018
By Paul Martin

GLOBAL markets have been plunged into chaos today with stocks plummeting in Europe and Asia following Wall Street’s worst day since February. Shares sank into a sea of red as world markets slumped to their lowest level in eight months, according to data provider MSCI.

Thu, Oct 11, 2018

Investors have been rattled about rapidly rising interest rates and an expected slowdown in global economic growth.

While in Europe, the market has also felt the ripple effects of the ongoing fallout between Italy and European Union chiefs over Rome’s deficit budget proposal.

The FTSE 100 opened down 1.6 percent, while the pan-European Euro Stoxx 600 Index had dropped by 1.2 percent in early deals.

As of 12:21pm, the FTSE 100 is trading at 7,030.90, according to Bloomberg.

In Italy, the FTSE MIB had tumbled by 1.5 percent this morning, before later clawing back some gains.

Markets also sunk this morning in Asia, with Japan’s benchmark Nikkei 225 losing 3.9 per cent, its biggest daily drop since March.

China witnessed its lowest stock market level in almost four years, while the Shanghai Composite ended the day down 5.2 percent.

The turbulent start for investors comes after the US stock market tumbled, with the Dow Jones Industrial Average sinking last night by more than 800 points.

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